What is the definition of 'Effective Date' in the context of The Standardx Hosting Services Agreement?

According to The Standardx's 2025 Franchise Disclosure Document, the Effective Date in the context of the Hosting Services Agreement refers to the date that appears in the first paragraph of the agreement. This date marks the commencement of the agreement between the franchisee (referred to as the Owner) and Hyatt Franchising, L.L.C. regarding hosting and related services for the Property Management System.

For a prospective The Standardx franchisee, the Effective Date is a critical reference point. It determines when the Hosting Services Agreement officially begins, which in turn dictates the start of the 12-month Initial Term. This date is important for tracking the agreement's duration, renewal terms, and termination deadlines.

Furthermore, certain financial obligations, such as the initial payment for Design Services Review Fees, may be tied to the Effective Date. As specified in the document, the initial payment is due on the Effective Date, making it a key date for franchisees to manage their initial investments and payment schedules. Understanding the Effective Date is essential for franchisees to align their operational and financial planning with the terms of the Hosting Services Agreement.